News
Lagos State to regulate electricity production for residents and businesses
The Lagos State Electricity Law 2024 provides a framework for electricity generation, transmission, and distribution. It establishes regulatory bodies and promotes renewable energy and energy efficiency. The law also encourages community involvement through a Host Community Development Trust Fund.
Consortium wins bid to acquire majority stake in Eko DisCo.
A consortium of North-South Power, Axxela, and Stanbic Infrastructure Fund has won the bid to acquire a majority stake in Eko DisCo. The transaction, valued at over $200 million, is expected to close in early 2025. This acquisition aims to create one of Nigeria’s largest integrated electricity distribution companies.
Lagos State plans to build four power plants to meet electricity demand in the state
Lagos State plans to build four gas-fired power plants to generate 4,000MW. The initiative aims to bridge the gap between demand and supply in the state. Bids are open until November 22, 2024.